A shocking new report into the Electrical Testing & Inspection market shows 33% of Companies are making a loss.
A shocking new report into the Electrical Testing & Inspection market shows 33% of Companies are making a loss. Intersafe is one of only 164 in the UK Electrical Testing & Inspection industry getting it right.
Here are some of the key findings:
Intersafe Ltd is rated as “STRONG” reflecting our recent performance
- 72 Companies in the sector are in financial danger and will struggle to survive
- Competitive pressure is now so intense, a third of companies are making a loss
- This report shows how important it is to carry out proper credit checks on suppliers you might be considering to carry out electrical testing.
Intersafe Director, Adrian Pendle adds “I suppose the price pressure the industry has been under for the last couple of years it is unsurprising that some companies are struggling. However undertaken credit checks on our competitors many companies, including some of the bigger players, are obviously finding trading conditions very tough.
Unfortunately it is a downward spiral as some companies chase business with ever reducing prices to try and keep themselves afloat in the short term. Eventually they will fail which will cause problems for customers, employees and the supply chain.
Clearly carrying out credit checks as part of the procurement process is even more important at the moment. Intersafe would encourage potential customer to carry out credit checks and even ask us for a copy of our latest accounts. I have always run the company very conservatively and as a result we have zero borrowing and the highest possible credit rating.”
If you would like more information on this please contact Angus on angus@intersafe.co.uk
